Synchrony Premier World Mastercard® review: Flat-rate cash back contender?

There's no welcome offer or intro APR, so you won't have the benefit of comparison between the first and subsequent years' value. Instead, you'll receive flat cash back, so the ongoing value is entirely dependent upon how much you spend on the card. 

The Synchrony Premier card offers a generous flat cash back rate without any added bells and whistles, so it can be a good card if you want a super-simple way to earn cash back without worrying about maximizing bonus categories.

Rewards: Unlimited flat cash back rate, simplified

You’ll earn an unlimited 2 percent cash back on all purchases with this card — no fussing about bonus categories, spending caps or meeting specific criteria to earn the highest rewards rate. 

This is typical of 2 percent rewards cards, so the Synchrony card isn’t breaking any new ground, but it is arguably a slight improvement over the rewards structure on the Citi Double Cash® Card, another cash back card that offers up to 2 percent back with no rewards rate cap.

Although the Citi Double Cash card and the Synchrony Premier earn up to 2 percent back, the Synchrony will grant your full 2 percent cash back earnings automatically as a statement credit within two billing periods of eligible purchases. The Citi Double Cash only earns the full 2 percent back when you pay your balance (you’ll earn 1 percent when you make a purchase and another 1 percent when you pay it off). 

And while Synchrony’s rewards program may be limited for cardholders who value redemption flexibility, it’s also especially simple: You won’t have to think much about your rewards at all. Simply use your card to make eligible purchases and cash back is automatically credited to your account within two billing cycles.

Annual fee: Access cash back without an ongoing annual fee

Like most 2 percent cash back cards, the Synchrony Premier does not charge an annual fee. You might see annual fees on rewards cards that are as high as $99, and it’s often the case that these rewards cards have rewards rates that are strikingly similar to what Synchrony offers with its Premier card.

The Capital One Venture Rewards Credit Card, for instance, charges a $95 annual fee (See Rates & Fees) and offers a flat rewards rate of 2X miles on all purchases. Depending on your redemption method, two Capital One Miles carry the same value as 2 percent of your dollar back — 2 cents. Granted, Capital One Miles can be worth much more with strategic redemptions, but that is anything but simple and you won’t see any real value with your credit card until you offset your annual fee with rewards earnings.

The Synchrony Premier gives you a chance to start accumulating value without an annual fee to offset your hard-won earnings.

Perks: Better than nothing?

Mastercard ID theft protection could safeguard you from the worrisome scenario that your personal information is stolen, while its Priceless® Experiences, Travel and Lifestyle services can bring some exciting opportunities to take advantage of. That said, these are very standard on most cards these days.

You might want another 2 percent cash back card if you want the first-year value that has become a novel fixture on some of the best rewards cards available. Welcome offers and intro APR periods are some of the most sought-after perks on a new credit card, and the Synchrony Premier misses the mark on both of them.

Intro APR: Skips intro rates

Introductory APR periods can help current cardholders with debt to transfer several hundreds of dollars worth of interest. They can also help new cardholders with a flurry of purchases manage mounting debt for a little over one year. A card that lacks either of these offers is already at a comparative disadvantage to other cards, but a card that lacks both is a lackluster financial product for cardholders who need debt management options.

If you’re interested in a card like this one, be sure that you don’t have any current card debt and you won’t be making any purchases that will make your expenses more hefty than your income. Otherwise, consider some of the best intro APR cards to help make 2025 the year you cut back on interest charges.

Welcome offer: Lacks first year value

You'll miss out on at least $200 worth of first-year value with the Synchrony Premier card because it doesn’t have a welcome offer. You can find welcome offers on other cash back credit cards that only require you to spend $500 in your first three months, which puts the Synchrony card at a huge competitive disadvantage.

The Wells Fargo Active Cash® Card, Capital One Savor Cash Rewards Credit Card and Chase Freedom Flex®*  are among some of the best credit cards with affordable welcome offer spending requirements. One of them is a top competitor in the 2 percent cash back card space. 

If you’re hoping to make the most of your credit card, skipping a welcome offer is not a good idea. You’ll need to spend about $835 each month for one year to earn the value of these other cards’ welcome offers with cash back earnings.

Like with any 2 percent cash back card, you’re likely to miss out on the boosted rewards rates for purchases in key spending categories like groceries, gas, dining and travel. Pairing the Synchrony card with a tiered rewards credit card can be a great way to maximize your credit card rewards strategy. 

The Synchrony Premier card isn’t much different than other 2 percent cash back cards, but there’s plenty of room for improvement. The following cards are currently much better offers than the Synchrony card.

You're better off with any number of other 2 percent cash back cards, but this one could be for you if:

• You already bank with Synchrony.
• You prefer reward redemptions that are automatically applied without having to choose.

Most people are better off looking elsewhere, as this card serves an extremely narrow niche.

If you want more choices, consider these instead. 

Capital One Venture Rewards Credit Card

One of the best travel cards available

Chase Freedom Unlimited®

Best for versatility and value

*Information about the Chase Freedom Flex® Card and Citi Custom Cash® Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.